Ownership of Bullion. The Custodian will identify in its books that the Bullion belongs to the Trustee (on trust for the Shareholders).
Ownership of Bullion. We will identify in our books and records that the Bullion belongs solely to you.
Ownership of Bullion. We will identify in our books, and will require any Sub-Custodian to identify on their books, that the Bullion belongs to you.
Ownership of Bullion. We will identify in our books that the Bullion comprising the Account Balance belongs solely to you (on trust for the Shareholders). We irrevocably declare that you (on trust for the Shareholders) are the owner of all right, title, interest and benefit in, to and under any Bullion in the Allocated Account deposited with, or in the possession of, us. We irrevocably declare that you (on trust for the Shareholders) are the owner of all right, title, interest and benefit in, to and under (a) any Bullion in the Allocated Account deposited with, or in the possession of, a Sub-Custodian; (b) any Bullion in the Allocated Account deposited with, or in the possession of, any other person; (c) any agreement between us and a Sub-Custodian or other such person in respect of such Bullion in the Allocated Account; and (d) any rights of recourse against a Sub-Custodian or other such person in respect of such Bullion in the Allocated Account, for a period of 80 years from the date of this Agreement.
Ownership of Bullion. We will identify in our books and records that the Bullion belongs solely to the Trust on behalf of the relevant Fund and not to any other Fund or party.
Ownership of Bullion. We will identify in our books and records that the Bullion belongs to you.
